Mastermind Unleashed: Using Applications for Mastermind Programs

Catharine O'Leary: Hello, wonderful listeners. Welcome back. I'm your host of kickstart the conversation, Catharine O'Leary. And today we're delving deep into the intriguing realm of masterminds. So, let's start with a little confession time here. I'll lean in, folks, this one's a game changer. Through my entrepreneurial journey, I've had the privilege of participating in various masterminds, some of which have unlocked doors to success, and others left me wondering if I had boarded a rocket to Neverland. I mean, really, you got to be careful. So I have ventured into the world of masterminds. I've even started a few. One of my personal favorites and somebody that I've had on the show before Episode 18. Actually, if you want to go back and listen was with Jay Fairbrother, aka the mastermind guy and Jay and I now co facilitate a mastermind called the table. The table isn't your average mastermind. It's actually where entrepreneurs peers, in particular, gather to support each other and really step their game up. We're talking about, you know, entrepreneurs who really want to take center stage at events that they sponsor, not just events that they go to, but events that they're actually paying to sponsor and take the stage at. They have streamlined systems for hosting talk to your events, and or they orchestrate masterminds that paved the way for six to seven figures success. In essence, the table isn't, isn't for people that are just in it for another coach, or another program. It's all about peer and results. We came up with the table. Because every time we describe what we were trying to do, it was, you know, we all wanted to get to the adult table. So if you think about Thanksgiving, you think about the kids table, and then the adult table, and then the teenagers, you know, they're too old for the kids table. And they're, they're not quite old enough for the adults table. So they ended up I don't know, they had to go into the rooms or whatever and eating because they don't want to sit at the kids table anymore. And there's not enough room of the adults table. So every time that we talk about the table, that's actually what we're talking about. Um, so it's a fun mastermind. And it's, you know, it's really helping us have that peer support that you know, that safe place to come and say, You know what? I know my coach said that I should be doing this, but it's not really working or what have you done? Or has anyone you know, found that those kinds of questions that you don't really want to ask a coach, and you still need help with. So Jay and I run the table, but masterminds don't just have to be with your peers, or with just your mentors. Let's go back and define mastermind, a mastermind is is essentially a group of like minded individuals who come together to support each other's growth and success. It's a community where you can share your ideas, challenges and goals and receive valuable insights feedback, encouragement, masterminds offer a unique opportunity for entrepreneurs to connect, collaborate and learn from one another, often resulting in significant personal and professional growth. Now, that is a true mastermind. There are a lot of hybrid masterminds out there now that are masterminds that are kind of being hidden by by the term mastermind. They're really hybrid group coaching, or high ticket coaching programs, which is fine, that's great. They usually have a mastermind component to them. But just be sure that you understand exactly what you're going to because masterminds do come in all shapes and sizes. So if you're looking for a mastermind, or you're thinking of even starting a mastermind, there's a few nuggets of wisdom I wanted to pass along. Number one, the facilitator or the person that's putting together the mastermind or in J in my case, the CO facilitators, they're absolutely critical you need to genuinely respect and one learn from them. They hold the keys to the kingdom they're selecting who gets a seat at the table. So if your values align you're likely going to be in good company with the people that they include in the masterminds but you know, as all things exception exists so take with a grain of salt you might there might be some personalities that you don't gel with right away but give it give it some time and just you know go in with that open mindset of you're there to learn and to share. So you know really understanding getting know the facilitator your mastermind is is you know, incredibly important. Nugget number two when you're on the hunt for a mastermind, seek alignment not only in the mindset or in the topic that you're you're signing up for the mastermind but also where are you are in the journey so if it's an entrepreneurial mastermind or it's a Business Mastermind say it's a seven figure mastermind, so everyone's trying to get to that seven figure So just make sure that, you know, you don't end up having a whole bunch of people in there that are really starting out. And they're not actually ready for a seven figure conversation because those conversations are very different than somebody starting out and you what you don't want is you don't want to be the, the trailblazer in a roomful of beginners, that hinders your growth, because you really, ideally kind of want a few people that are ahead of you. And maybe a few people that are, you know, a little behind you in the journey that you can help pull up and help you know them with their growth in their expansion. But being the big, like being the big dog in the room, not always the best way to go. So just be aware that it's really critical not only for mindset, but also to make sure that you're aligned with people who are on a similar path or in a similar place in their journey. Number three, so the third nugget, approach every question and discussion with the mindset of how can I apply this to my journey? So this is from my own personal challenge, I think, is that if a topic seems unrelated, or if it's something that I have already done, and, you know, have gone beyond so if it's a, if it's a conversation around lead magnets, and how do you how do you create one, for example, I can get a little bit annoyed when people bring that up in a mastermind that I'm in, because I'm already ahead of the curve, or I'm already past that point in my journey. But if I changed my mindset, and I turn things around to how can I apply this to, to my journey, my challenges my conversations, there's often valuable gems hidden just beneath the surface. So the more open you are, the more you stand to gain. So just be really aware of listening and actively listening to everyone that's sharing in the mastermind. I mean, you've joined this mastermind for a reason, you want to make sure you're getting the most value out of it, that you can and one of the ways to make sure that you're going to be getting the most value that you can is to really to be open and just approach things that you know, you think you may know everything about, because chances are you don't. With that question of how can I apply this to my journey? So that's, that's one that I been learning and applying to myself. Nugget number four, understand the type of mastermind you're joining. So, you know, is it a true mastermind? Is it that that collaborative think tank where knowledge is shared? Or is it a hybrid model, which is blending group coaching with mastermind elements for questions and discussions? Either way, totally fine. You know, just make sure that you're clear on what's being offered and what you're paying for. Because if you think you're getting a whole bunch of high end coaching in a group setting that's, you know, really small, because Matt, most masterminds are, you know, between, you know, 12, to maybe 20 people, I mean, that's, that's really small for some of the higher end coaches. But if you think you're gonna get onto a group coaching, call, and learn a bunch of things from them, and they're running really a true Think Tank, then you're going to be disappointed. So just make sure that you understand either way, that you're you're signing up for what you think you're signing up for. Now, before we proceed further, I just want to you to picture this. So I talked earlier about the table and the mastermind that Jay and I are running, and CO facilitating. I actually recently returned from Northern California where I attended a phenomenal retreat, which was part of a mastermind, hosted by one of my mentors, Gina gab aleni. So this is a two day retreat is for the seven figure player mastermind. And it was a true testament of what can be achieved in a really short amount of time, where a roomful of dedicated entrepreneurs, joins forces. So this was a true Think Tank. This was a true, you know, tell us about your business. Here's

your hot seat, tell us about your business. And then we all put our minds to whatever questions that you're trying to come up with or trying to work through whatever those challenges are. So that was great was like nine people that were in this two day mastermind, that that's not a huge amount of time for nine people in two days. But, you know, everyone got what they needed from it. And one of the things that I really appreciated out of this mastermind is that we ended up with a little mini informal group that emerged that we meet now regularly, you know, once a month to keep that mastermind Mojo alive, as this is a year long program. So the two day retreat was part of this year long program and this little mini kind of side hustle almost of an informal group has emerged and it's just a way for us to get concentrated time with one another as a pure mastermind, or a peer group to, you know, ask questions and talk about what we've applied and what we've learned and that kind of thing. So that's a shining example of a mastermind with an organic group of friends. And it's an experience, honestly, that's simply priceless. So, again, masterminds come in all sizes, all kinds, just make sure that you're you're understanding because they're, they tend to be a high ticket offer. However, that being said, that not only invaluable for networking and relationship building, but also for knowledge exchange. So, you know, however, you know, as I said, they can be costly, you know, like a gourmet meal at an upscale restaurant, but you know, it's so good. And at the end of it, you you absolutely love that you did it. So my advice, just do your due diligence, and dive in. Right, because it can, it can be a game changer, it absolutely can be and I've had that mastermind that I can point to, that has really propelled my business forward in ways that would have taken me years to do on my own if I didn't have that mastermind. So 100%, you know, if, if that's something that you're looking at, do your due diligence, and make sure that you're understanding what you're what you're signing up for. And that, that networking can absolutely and that collaboration can absolutely move your business forward. Now, for those people out there that are considering creating their own masterminds, it can be a very nice package, a nice way to add a six figure income streams or more to your business. And what I what Jay and I talked about in episode 18 was implementing an application questionnaire to help as, as you assemble that stellar group. So the mastermind, the facilitator, as you are the person kind of, you know, in the driver's seat, you want to make sure that you're putting people around the table, that are going to gel, they're going to like, it's more than just their knowledge, it's their personalities, it's, you know, the way that, you know, they, they connect in a group, you know, you are the gatekeeper, and you got to make sure that you're putting together as well as you can, a group of people that are going to, you know, get along, because usually masterminds are for an extended period of time, you know, six, six months to a year, some masterminds are, you know, not all of them are that long, but you know, you are spending a, an intense period of time, whether it's maybe a week in Cabo, or it's a year together with a, you know, a small group of people. And the facilitator, their job is to make sure that they are letting the people in, that are going to, you know, help the group that's going to support the group that are going to add to the group, and that are going to get along with the group. And this is where I want to come up with ideas on how quizzes can help, because honestly, you didn't really think you were going to get out of this without talking about quizzes. Did you not mean not really, right? Well, I can tell you that an application questionnaire is an amazing way to invite people to apply to your mastermind. So remember that as a facilitator, you do need to be the gatekeeper of who gets into the mastermind. So why not have them apply and have you know, have them go through some questions. And remember that an application form is something that it's not as restricted to that five to eight questions that we often talk about, you know, as being the maximum number of questions for lead generation type of quiz. This is an application form, this is, you know, for your mastermind, this can be as long as you need it to be so just, you know, remember that, you know, be mindful and be respectful of people's time. And you know, how much time that they really need to go through the questionnaire. But, you know, at the same token, gather the the amount of information that you need to be able to look at the the application and say, Yes, this is a person that I at least want to move to a call and get to know a little bit better. So, you know, as the facilitator, your main job is to assemble a group of people that are going to gel and an application questionnaire can absolutely help with that process. And that, my friends, is the Insiders Guide to masterminds, presented with a touch of wisdom and insight, I hope. Until next time, remember the true magic occurs when knowledge turns into action. Stay Brilliant, stay focused, and keep mastering your entrepreneurial journey. Cheers